New Delhi: Due to the Covid-19 outbreak in India, which had a severe impact on the societal, economic, and industrial health of the country, Mukesh D. Ambani, chairman and managing director of Reliance Industries, voluntarily opted to forgo his income for the years 2020–21.In 2021–2022 he still refused to accept payment.
Mukesh Ambani’s Kept His salary capped at Rs 15 crore since the last one and a half decade. In order to establish a personal example of moderation in managerial compensation levels, the chairman and managing director of RIL kept his salary restricted to Rs 15 crore since 2008-09.
Meanwhile, the remuneration of Mukesh’s cousin Nikhil is technically more than RIL boss Mukesh Ambani himself.
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Nikhil Meswani Top Paid Reliance Employee: His Salary
The remuneration Nikhil Meswani in FY 2020-21 remained unchanged at Rs 24 crore but this time it included a Rs 17.28 crore commission. Executive directors PMS Prasad and Pawan Kumar Kapil saw their remuneration fall marginally. While Prasad drew Rs 11.89 crore in 2021-22, down from Rs 11.99 crore in 2020-21, Kapil got Rs 4.22 crore, lower than Rs 4.24 crore in the previous year.The payment of Prasad and Kapil included “performance-linked incentives for FY 2020-21 paid in FY 2021-22,” an RIL annual report had said.
Ambani’s wife Nita, a non-executive director on the company’s board, earned Rs 5 lakh as a sitting fee and another Rs 2 crore commission for the year. She had in the previous year got Rs 8 lakh sitting fee and another Rs 1.65 crore commission.Apart from Ambani, the RIL board has the Meswani brothers, Prasad and Kapil as wholetime directors.
Who is Nikhil R. Meswani
Nikhil R. Meswani is Mukesh Ambani’s cousin. Nikhil Meswani, the son of Rasiklal Meswani, one of the Company’s Founder Directors, is a chemical engineer. He started working with Reliance in 1986, and as of July 1st, 1988, he has been a full-time director on the company’s board, holding the title of executive director. He is largely in charge of the company’s petrochemicals sector and has significantly aided Reliance in its rise to the top of the petrochemicals industry worldwide. He managed the Company’s refinery operations from 1997 and 2005. Also, he still handles a number of other company duties like company Affairs and Group Taxation.
Additionally, he participates in the Indian Super League, the Mumbai Indians of the Indian Premier League of cricket, and other Company-sponsored sporting endeavours.
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